|
Getting your Trinity Audio player ready...
|
Key Takeaways:
- Over 1.5 billion PENGU tokens worth $45.56M were moved to exchanges by the deployer.
- The move comes amid mixed technical signals and a recent wave of bullish sentiment.
- Analysts remain cautiously optimistic, citing strong fundamentals and growth potential.
The crypto market is buzzing after Arkham Intelligence revealed that the deployer behind Pudgy Penguins (PENGU) transferred over 1.5 billion tokens, valued at approximately $45.56 million, to multiple centralized exchanges. While some view this as a strategic liquidity move, others fear a potential sell-off that could dent recent bullish momentum.
1.5 Billion PENGU Tokens Moved to Exchanges
According to Arkham Intelligence, the transfers occurred between July 11 and July 17, routed via various Squads Vault addresses. The deployer still holds roughly 9.5 billion PENGU, worth nearly $299 million. While such large-scale movements aren’t inherently bearish, sending tokens to exchanges often raises red flags for traders, especially in speculative environments like meme coins.
On X (formerly Twitter), traders offered mixed reactions. Some encouraged taking profits, while others emphasized holding. The hashtag #tpOrBelieve has begun circulating as a reflection of this division.
Timing Raises Concern Amid Overbought Signals
The token had been enjoying a wave of optimism. PENGU’s recent rally saw it hit highs above $0.034 before cooling off to $0.03, following the announcement of a mobile game and the SEC acknowledging a potential ETF filing. These developments pushed its market cap over $2 billion and daily trading volume to $1.75 billion.
However, despite the bullish fundamentals, PENGU is currently stuck in oversold territory, with bearish technical indicators hinting at possible downward pressure.
Analysts Stay Bullish Despite Volatility Fears
Not all experts are sounding the alarm. Popular trader Honey believes this could be a temporary consolidation phase, projecting a move toward $0.04 if momentum resumes. Others point to the token’s ecosystem growth, strong exchange support, and user engagement as signals of long-term viability.
PENGU
— Honey (@honey_xbt) July 16, 2025
as expected we did 2x in a week after we broke out of the cup and handle, so i wouldn't be surprised if we consolidate here before another move up to mid 0.04cs
chart looks good + sentiment looks bullish = there's literally no stopping PENGU
respect the pump 🐧 pic.twitter.com/dS96u1tkKg
Crypto analyst Muro added that PENGU’s rapid ecosystem expansion and mainstream appeal are “already outperforming many legacy meme coins,” suggesting that short-term movements shouldn’t overshadow long-term fundamentals.
The transfer of such a massive token amount by the PENGU deployer undeniably injects uncertainty into the market. While fears of a dump loom, it’s also possible these tokens are earmarked for liquidity provisioning, partnerships, or strategic expansion—especially with the upcoming mobile game and ETF buzz.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: PENGU Meme Coin Surges 117% as Pudgy Party Mobile Game Hype Builds
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
